Mango, the Barcelona-based global fashion giant, has made the move into rental with an investment through its Mango StartUp Studio in a start-up La Más Mona, a Spanish party dress and accessories rental platform.
This is the third investment the start-up accelerator has made since it was founded last year in the rental platform La Más Mona. The investment was made through its Mango StartUp Studio. Recovo, a sustainability start-up that specializes in the resale of textile waste, and Payflow, a company that offers on-demand salaries and flexible compensation, are two further enterprises it has supported.
Together with the investment in La Más Mona, Mango has started a pilot rental service at mangorenting.com that offers 40 looks that can be rented for four-day increments and will be refreshed monthly.
La Más Mona was established in 2010 and started with a B2C strategy of renting out clothing for both formal and casual occasions. It has now expanded its clientele by adding a B2B model for companies looking to start their own rental service. 35,000 rental items are currently available on the marketplace, which has 315,000 registered users.
Mango created the Mango StartUp Studio to encourage innovation within its company, identify chances for new growth, and take part in the creation of novel technology or business models. It is particularly concerned with technology and sustainability.
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